TSMC to buy fab and land from Powerchip

The deal will help Powerchip to ease financial pressures of late. The deal is apparently part of efforts to sell off non-core businesses to improve the company's financial structure. Furthermore, Powerchip also plans to negotiate a bank loan rollover with credit banks and has already sold 3.57 million shares to Taiwan-based chip designer Zentel Electronics Corp., local media reports.
As reported earlier, Powerchip also struck a deal with Rexchip. Rexchip has resumed shipments of chips after suspending it due to payment delays by Powerchip.